Heeeeck no. No way.
Pretty paint won't make it shoot better. A gimmick choke tube? Gimme a break, a $17 plain MOD RemChoke tube will do as well for me. Pistol grip stock? No thanks.
I'll take a mechanically sound $150 used-rack Wingmaster or old model Express any day, and give it a good cleaning. Then add a good 18" or 18.5" barrel with rifle type night sights ($140 from Remington, when they have them, which ain't often), 2-shot Remington magazine extension and clamp ($19.95 from Numrich a while back, I bought several), 12.5" LOP Speedfeed II 'solid' stock and forearm ($28.50 from Numrich and cut down), a good recoil pad ($30 or so), a 6-round Sidesaddle ($25) and a Streamlight light mount ($15). Then BA/UU/R.
$150+$140+$19.95+$28.50+$30+$25+$15= $408.45
And the Cinderella 870 with a handy 18- 20" barrel and nothing else will do just fine without all the other goodies hung on it, too.
Saw one for sale yesterday, an nice older Wingmaster 2 3/4," good wood and bluing, with a 28" VR barrel AND an 18" 'bird' barrel. $300 for the package. Ought to have bought it on GP, and might buy it yet, depending on whether or not a bid I have in on another pumpgun goes through. Cheap? No. Nothing cheap about buying a mechanically sound modern classic pumpgun at a good price. That's being frugal, not cheap.
If a gussied-up 870 like that one floats your boat, go for it and enjoy it. Your money, your choice. But the shooter makes the gun, not the other way around. You can't buy skill and ability no matter how much you spend on hardware.
Stay Safe,
lpl/nc